Wellington, April 28 NZPA - NZ Windfarms Ltd today detailed commitments it had received from major shareholders as part of its $31.4 million rights issue, which closes tomorrow.

Shareholders have the right to buy eight new shares for every three held at 15c each.

The company said Vector Ltd had committed to buy $6.28m worth of shares and could buy a further $6.28m worth under an underwriting commitment, if there was a shortfall when the rights issue closed.

AMP Investors (New Zealand) Ltd has committed to buy $3.96m of shares and could buy up to $3.26m more under the commitment.

Tyndall Investment Management NZ Ltd is buying $3.62m and could double that as part of the commitment. Accident Compensation Corp has committed to buy $713,644 worth of shares and the same amount again if there is a shortfall.

Rotorua Perpetual Capital Fund Ltd has taken up rights worth $400,000 and has an commitment of the same amount.

A report for shareholders said a shortfall was likely and Vector's shareholding was likely to increase above 20 percent. A potential allotment to Vector is subject to a limit that would give it a maximum 39.9 percent shareholding in the company.

The rights issue will not proceed if a minimum subscription amount of $25.8m is not raised.